July 20 and 27, 2007 - Hawai`i's Economic Forecast

Click here to listen to this address.
 

"This month, Forbes magazine ranked Hawai`i's economic climate as the second best in the nation.  Forbes also upgraded Hawai`i's business climate ranking from last in the nation in 2002 to 37th, five spots higher than last year.

These national rankings are a testament to the resilience and hard work of Hawai`i's businesses and employees.  In addition, my Administration has worked collaboratively with the private sector to lower the cost of doing business.

Hawai`i's economy is projected to grow by a healthy 2.5 percent this year.  In addition, new construction building permits increased 8 percent last year and personal income is up 6.1 percent in the first quarter of this year.

As we move forward, we will continue to focus on innovative ways to improve our economy, raise our standard of living and enhance the creativity and productivity of our workforce."